Vietnam can grow fast and sustainably: PM

NDO/VNA – Vietnam can achieve fast and sustainable economic growth without having to choose between growth quality and speed, stated Prime Minister Nguyen Xuan Phuc at the Vietnam Economic Forum (VEF) 2019’s plenary and high-level policy dialogue in Hanoi on January 17.

He said that “fast and sustainable” are the key words and the motto for the strategy and action of the Government through the years.

Vietnam has defined economy, society and environment as three key pillars in its development policy and models, said the PM, stressing that sustainable growth is not contrary to fast growth, instead they are the necessary and sufficient conditions for high growth over the long term, especially in the context of the fourth Industrial Revolution.

The Government leader said that Vietnam is experiencing a transformation in growth model to a higher ladder in the value chain, with improved living conditions of locals and strong expansion of the private sector.

Citing statistics that showed more than 130,000 new firms were established and 34,000 enterprises resumed operation last year, he said that was a good signal.

Regarding missions and targets for 2019, the PM said that the Government will re-evaluate all aspects of its socio-economic governance from the central to local level, with focus on the mindset, the socio-economic planning process in the recent 10 years, and governance principles and model.

According to the government leader, principles and governance models that are no longer suitable will be adjusted to complete targets in digital government, growth facilitation and government’s integrity.

PM Phuc stressed that the Government will also re-assess the real situation and potential of key economic sectors with a view to creating new driving forces for development. The Government sees the digital economy as a driver and the locomotive for fast and sustainable growth of Vietnam, he underscored.

The Vietnam Economic Forum 2019 was jointly organized by the Government and the Party Central Committee’s Economic Commission on January 16 and 17 in Hanoi.

The event aimed to review the Vietnamese economy’s development in 2018 and discuss its prospects in 2019, as well as analyse opportunities along with difficulties and challenges facing the Vietnamese economy, in order to propose measures to promote innovation and bolster socio-economic growth.